Incentives for entrepreneurs in Serbia

1st  of October 2018 has seen the implementation of the provisions of the Law on Income Tax and the Law on Contributions for Compulsory Social Insurance, which were adopted by the National Assembly of the Republic of Serbia on 14 December 2017, published in the Official Gazette 113/2017 dated 17.12.2017. and entered into force on December 25, 2017.

Amendments to the Law on Income Tax and the Law on Contributions for Compulsory Social Insurance set out measures to support start-ups in business by exempting from payroll taxes and compulsory social security contributions for a year.

These exemptions relate to the earnings of the entrepreneur and up to 9 newly employed, who must be fresh secondary school graduates, students or persons who have been for more than 6 months on the records of the National Employment Services.

These benefits can be achieved by employers who have established a company in the period from the beginning of the implementation of the law, i.e. from 1 October 2018 to 31 December 2020.